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Apr 18, 2013
04/13
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weekend fix the budget that reduces the deficit by $1.2 trillion over 10 years and that would take a grand bargain including spending cuts and additional revenues. would turn off the automatic spending cuts and sequestration for those 10 years. i remain hopeful we can develop such a bipartisan plan but absent a so-called grand bargain, surely we could devise a balanced deficit reduction package for one year that avoid sequestration in fy2014. we simply cannot continue to ignore the effects of sequestration. sequestration will have a major impact on military personnel. the pay of military personnel has been exempt it will ask them -- for troops including schools, military children, family support programs and transition assistance programs and mental health and other counseling programs. the president's budget request continues the measure drawdown of active duty and present and strength. we have in recent years given the department numerous force shaping authorities to allow us to reduce the debt strength in a responsible way, ensuring that the service maintains the proper enforcemen
weekend fix the budget that reduces the deficit by $1.2 trillion over 10 years and that would take a grand bargain including spending cuts and additional revenues. would turn off the automatic spending cuts and sequestration for those 10 years. i remain hopeful we can develop such a bipartisan plan but absent a so-called grand bargain, surely we could devise a balanced deficit reduction package for one year that avoid sequestration in fy2014. we simply cannot continue to ignore the effects of...
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Apr 19, 2013
04/13
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we can develop such a bipartisan plan perhaps in a so-called grand bargain we could devise a balance deficit reduction package for one year that avoids sequestration in fy 2014. we simply cannot continue to ignore the effect of sequestration. sequestration will have a major impact on military personnel. though the pay of military personnel has been exempted, the sequester would reduce military readiness in the services for the troops including schools for military children, family support programs and transition assistance programs and mental health and other counseling programs. the president's budget request continues a major drawdown of active duty and reserve strength. we have in recent years given the department numinous force shaping authorities to allow it to reduce its strength in a responsible way ensuring that the services maintain the proper force mix and avoiding grade and occupational disparities, all of which have long term affect. if sequestration continues, the result would be ore pripitous foe structe that is ou of t the requirements of our defense strategy. sequestration ha
we can develop such a bipartisan plan perhaps in a so-called grand bargain we could devise a balance deficit reduction package for one year that avoids sequestration in fy 2014. we simply cannot continue to ignore the effect of sequestration. sequestration will have a major impact on military personnel. though the pay of military personnel has been exempted, the sequester would reduce military readiness in the services for the troops including schools for military children, family support...
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Apr 18, 2013
04/13
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you raise the age gradually 27862 thirds of the social security deficit. fix the remaining by testing the benefits. the president has occasionally sad he's for entitlement reform, but is not shown much leadership on this premise seems to benchmark per se, but any with him at least a 47 republican senators, we sat around a table that he and the vice president a year and half ago and i told them i think we should give people on both sides to essentially fix social security. .. into the federal employee benefits plan, federal health insurance plans so i said this is a democrat idea, this will be easy. i be easy. i will just go to john kerry and say let's use your idea and a friedel country but for senior citizens and let everybody of the federal employee health plan. i think the public would like it if they are still getting the same health plan is their congressman is and should be eminently sellable. similar to what paul ryan talks about give everybody the federal health employment plan. it saves 1 trillion over 10 years and actually according to our projec
you raise the age gradually 27862 thirds of the social security deficit. fix the remaining by testing the benefits. the president has occasionally sad he's for entitlement reform, but is not shown much leadership on this premise seems to benchmark per se, but any with him at least a 47 republican senators, we sat around a table that he and the vice president a year and half ago and i told them i think we should give people on both sides to essentially fix social security. .. into the federal...
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Apr 18, 2013
04/13
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raise it to 70, and you fix two-thirds of the social security deficit. you can fix the remaining third by means testing the benefits. i thought that there'd be bipartisan support for that because the president has occasionally said he's for entitlement reform, but he, i think, has not shown much leadership on this. seems to be inching more towards it, but i had a meeting with him back when we used to have 47 republican senators, we sat down around a table like this with he and the vice president. this was probably a year and a half ago. and i told him precisely that, that i think we should be able to get people on pote sides of the equation -- on both sides of the equation just to, essentially, fix social security. medicare's a more difficult problem. it's $35-40 billion short, and these are problems that drive your deficit. everybody here knows this. two-thirds of the budget is entitlements. to we have another -- so we have another bill that fixes medicare. it's $35-40 trillion on the whole we do the same thing. we age the -- raise the age grawjally, we
raise it to 70, and you fix two-thirds of the social security deficit. you can fix the remaining third by means testing the benefits. i thought that there'd be bipartisan support for that because the president has occasionally said he's for entitlement reform, but he, i think, has not shown much leadership on this. seems to be inching more towards it, but i had a meeting with him back when we used to have 47 republican senators, we sat down around a table like this with he and the vice...
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Apr 19, 2013
04/13
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look, economics are fiscal situation, the deficit, the budget, are all threats to the security. there's a lot of physical seen and unseen threats out there that perhaps are different even from when admiral mullen made that comment. i align myself with the economic piece of it. there are just groups out there that threaten us. ? 0. >> thank you. it is important for us, i think to remember the president's budget despite proposing significant tax increases would still contemplate adding $12.db $2.5 trillion head by the total public. .. >> future years covered by the budget control act. will we continue to see budget that is ignore provisions, ignore the sequester provisions? can you expect budgets like that to be sent to congress that don't reflect the law? secretary hagel? >> the fy15 budget we'll present
look, economics are fiscal situation, the deficit, the budget, are all threats to the security. there's a lot of physical seen and unseen threats out there that perhaps are different even from when admiral mullen made that comment. i align myself with the economic piece of it. there are just groups out there that threaten us. ? 0. >> thank you. it is important for us, i think to remember the president's budget despite proposing significant tax increases would still contemplate adding...
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Apr 22, 2013
04/13
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greece has made a lot of progress in reducing deficit as well. therefore, we are regaining confidence. and if you look at market, markets are very, have regained a lot of confidence. and bonds for all member states, including italy, spain, all the concerned countries, are below they used to be before the crisis. therefore, markets have regained what we are doing now is building the next step, building the banking union. we have already agreed on mechanisms because we need a strong european supervision of banks because our banking works not only in the frame of one member state, but all of us. we need a european mechanism and a european supervision. we haveimemented, we will implement a supervise mechanism in the coming weekings. it -- weeks. it has been already decided. we will build, we have a european regulation on deposit insurance. we have a european regulation on our -- it is not yet decided, but it's drafted, and it is on the way on regulation that was -- [inaudible] mechanism as well. and, therefore, we are working step by step in the dire
greece has made a lot of progress in reducing deficit as well. therefore, we are regaining confidence. and if you look at market, markets are very, have regained a lot of confidence. and bonds for all member states, including italy, spain, all the concerned countries, are below they used to be before the crisis. therefore, markets have regained what we are doing now is building the next step, building the banking union. we have already agreed on mechanisms because we need a strong european...
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Apr 21, 2013
04/13
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the federal deficit is at more than $1 trillion. a senior director of the bipartisan policy center said the debt has been accumulating so much the economy is at high risk. >> our debt is a percentage of g.d.p. in the last 30 or 40 years it's been less than 40%. it's only in recent years we've seen a decline. we are in dangerous territory. >> debra sullivan of the bloomberg view blames the shell-shocked u.s. economy. >> they say it's continuing to expand because of job loss, causing more spending on aid programs. >> we had large deficits for four years because we have low revenues as people don't have jobs, or they're getting paid less. but also we have these mandatory spending programs which go on auto pilot. unemployment, food stamps, medicaid, they spend more when he economy is bad. >> i think that the underlying issue of the financial crisis have not been fixed at all. indeed there's no easy fix. >> there are fix to consider. >> if we want to lift the cloud of deficits hanging over our country, we won't solve the problem of fisca
the federal deficit is at more than $1 trillion. a senior director of the bipartisan policy center said the debt has been accumulating so much the economy is at high risk. >> our debt is a percentage of g.d.p. in the last 30 or 40 years it's been less than 40%. it's only in recent years we've seen a decline. we are in dangerous territory. >> debra sullivan of the bloomberg view blames the shell-shocked u.s. economy. >> they say it's continuing to expand because of job loss,...
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Apr 16, 2013
04/13
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doesn't help us with our trade deficit with china. doesn't help us export more grain to russia. $168 billion we ask american taxpayers to dig into their pocket and pay for the pleasure of paying nair income taxes. more -- their income taxes. more and more americans, mr. speaker, find they can't do their own taxes, that they have to go to a professional tax preparer. i don't mind paying my taxes. i think i'm getting my money's worth. america is a great country. but to help somebody help me pay the taxes makes me angry and it's wrong. it's wrong. you know, i look at what's happened in those former soviet block countries, mr. speaker. you know, those former soviet block countries have all moved to flat taxes? what they found is when they have high tax rates and very difficult to comply with, folks just didn't pay their taxes at all. but when they lowered that rate, made it flat, applied it across a broad base, folks began to voluntarily emit -- remit their taxes. it's not rocket science. it's what we've seen in example after example afte
doesn't help us with our trade deficit with china. doesn't help us export more grain to russia. $168 billion we ask american taxpayers to dig into their pocket and pay for the pleasure of paying nair income taxes. more -- their income taxes. more and more americans, mr. speaker, find they can't do their own taxes, that they have to go to a professional tax preparer. i don't mind paying my taxes. i think i'm getting my money's worth. america is a great country. but to help somebody help me pay...
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Apr 16, 2013
04/13
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these cuts are part of a balanced budget of deficit reduction. these cuts are backloaded, occurring mainly in the years beyond f.y. 2018, which gives the department time to plan and implement the reductions wisely and responsibly, anchored by the president's defense strategic guidance. let me turn to the details of the president's budget request. $526.6 billion budget request addresses the compelling demands of supporting troops in afghanistan, protecting readiness, modernizing the military's weapons inventory and in keeping with the president's strategic guidance and sustaining the quality of the all-volunteer force. today's budget request contains a placeholder request, mr. chairman, for overseas contingency at the f.y. 2013 vel, and the submission does not include a formal request because afghanistan force levels and deployment decisions for this year were delayed in order to provide commanders enough time to fully assess requirements. we will be smithing a budget with the -- submitting a budget and account level detail. the base budget contin
these cuts are part of a balanced budget of deficit reduction. these cuts are backloaded, occurring mainly in the years beyond f.y. 2018, which gives the department time to plan and implement the reductions wisely and responsibly, anchored by the president's defense strategic guidance. let me turn to the details of the president's budget request. $526.6 billion budget request addresses the compelling demands of supporting troops in afghanistan, protecting readiness, modernizing the military's...
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Apr 20, 2013
04/13
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it would over 10 years increased deficit by about $18 billion. it doesn't tell like a lot now but there are things to remember about the $18 billion. since that time, many of the things that were policy , there has been spending on that about half of what the cbo expected would be needed during those comparable policy objectives now maybe cheaper and generate less and the way of spending. is that thehing cbo did not use a dynamic scoring. you did not take into account the potential economic growth affects. the last piece of what is ,appened is since that score congress has passed and the president has assign the affordable care act. my reading of this legislation is is a bipartisan commitment that those who would become registered provisional immigrants who are here illegally, would not be eligible 10,benefits not for probably not for 15. so there will not be a budgetary impact. over the longer term, there is something congress should keep on and terms of the budgetary outlook. i would be happy to discuss with you the impact of the bill in that r
it would over 10 years increased deficit by about $18 billion. it doesn't tell like a lot now but there are things to remember about the $18 billion. since that time, many of the things that were policy , there has been spending on that about half of what the cbo expected would be needed during those comparable policy objectives now maybe cheaper and generate less and the way of spending. is that thehing cbo did not use a dynamic scoring. you did not take into account the potential economic...
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Apr 18, 2013
04/13
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CNBC
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we are doing major work on the deficit this year. that is slowing the economy. later on the economy can accelerate. overall, it wasn't as bad as it looked in the fourth quarter. it wasn't as good as 3% to 4% if r the first quarter. i think it's good enough. >> wow. a lot of people would take that. you ian say -- i mean, talk about a silver linings playbook that the collapse in goal removes an impediment to hardball asset pricing. with you explain that? >> we have seen a lot of markets are very out of whack in recent years. that causes people to make strange investment decisions. also to cash accounts. still too much money sitting in cash accounts. but it doesn't tell me anything important by the global economy. it just tells me that one side show was that distraction for a lot of investors is ending here. so it's funneling money back in towards long-term inmentes in real estate, in business, in equities. that's where we want to see money invested. >> does that mean you take a gamble on the technology? we'll get results tonight or is this a general bulls market?
we are doing major work on the deficit this year. that is slowing the economy. later on the economy can accelerate. overall, it wasn't as bad as it looked in the fourth quarter. it wasn't as good as 3% to 4% if r the first quarter. i think it's good enough. >> wow. a lot of people would take that. you ian say -- i mean, talk about a silver linings playbook that the collapse in goal removes an impediment to hardball asset pricing. with you explain that? >> we have seen a lot of...
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Apr 22, 2013
04/13
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these cuts are part of a balanced package of deficit reduction. unlike sequester, these cuts are largely back-loaded -- occurring mainly in the years beyond fy 2018 -- which gives the department time to plan and implement the reductions wisely, and responsibly, anchored by the president's defense strategic guidance. the president's fy 2014 request continues to balance the compelling demands of supporting troops still very much at war in afghanistan, protecting readiness, modernizing the military's aging weapons inventory in keeping with the president's strategic guidance, and sustaining the quality of the all-volunteer force. the top-line budget request of $526.6 billion for fy 2014 is essentially flat compared to the president's request for fy 2013, and roughly in line with what both the house and senate have passed in their fy 2014 budget resolutions. today's budget request also contains a placeholder request for overseas contingency operations (oco) at the fy 2013 level ($88.5 billion). the submission does not include a formal oco request becau
these cuts are part of a balanced package of deficit reduction. unlike sequester, these cuts are largely back-loaded -- occurring mainly in the years beyond fy 2018 -- which gives the department time to plan and implement the reductions wisely, and responsibly, anchored by the president's defense strategic guidance. the president's fy 2014 request continues to balance the compelling demands of supporting troops still very much at war in afghanistan, protecting readiness, modernizing the...